{"id":268211,"date":"2019-07-10T09:00:29","date_gmt":"2019-07-10T13:00:29","guid":{"rendered":"https:\/\/content.carib-export.com\/news\/the-agro-processed-food-and-natural-ingredient-sectors-and-the-creative-industries-keys-to-the-caribbeans-expansion-in-the-european-market\/"},"modified":"2022-06-13T20:20:44","modified_gmt":"2022-06-14T00:20:44","slug":"the-agro-processed-food-and-natural-ingredient-sectors-and-the-creative-industries-keys-to-the-caribbeans-expansion-in-the-european-market","status":"publish","type":"news","link":"https:\/\/content.carib-export.com\/nl\/news\/the-agro-processed-food-and-natural-ingredient-sectors-and-the-creative-industries-keys-to-the-caribbeans-expansion-in-the-european-market\/","title":{"rendered":"De sectoren van agroverwerkte voedingsmiddelen en natuurlijke ingredi\u00ebnten en de creatieve industrie: sleutels tot de expansie van het Caribisch gebied op de Europese markt"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li><strong>The value of Latin America and\nCaribbean (LAC) exports has shrunk by an estimated interannual rate of 1.6% in\nthe first quarter of 2019, according to the Inter-American Development Bank\n(IDB)<\/strong><\/li><li><strong>The slowdown in LAC foreign sales\nhas been partially counteracted by buoyant exports from the Caribbean<\/strong><\/li><li><strong>The Caribbean Export Development\nAgency is committed to promoting the agro-processed food and natural ingredient\nsectors and the creative industries in Europe in order to fuel expansion<\/strong><\/li><\/ul>\n\n\n\n<p>Following two years of uninterrupted growth,\ngoods exports from Latin America and the Caribbean (LAC) have fallen in the\nfirst months of 2019, due to a decline in the volume of exports as well as a\ndrop in the prices of raw materials.<a href=\"#_ftn1\">[1]<\/a>\nThe Caribbean countries &#8211; Dominican Republic, Haiti, Jamaica, Barbados and\nSuriname &#8211; together with Mexico, Ecuador and Costa Rica, are the only ones to\nrecord positive developments from January to March. However, the slowdown is\nmarked and for this reason the countries in the region are making a concerted\neffort to foster their overseas commercial relationships in order to counter\nthe drop in demand.<\/p>\n\n\n\n<p>The Caribbean Export Development Agency (Caribbean\nExport) in cooperation with the European Union and the Deutsche Gesellschaft\nf\u00c3\u00bcr Internationale Zusammenarbeit GmbH or GIZ in short is holding the <a href=\"http:\/\/www.cedev.local\/businessforum\/\">fourth\nCARIFORUM-EU business forum<\/a> from the 26 to the 28 September 2019 in\nFrankfurt, with the aim of improving commercial relationships between fifteen\n(15) Caribbean countries (CARIFORUM) and Europe, and increasing awareness of\nthe private sector of business opportunities in the European market. Caribbean\nExport has identified the agro-processed food and natural ingredient industries\nand the cultural and creative industries as the sectors with the highest\npotential for growth in Europe.<\/p>\n\n\n\n<p><strong>Rum and seasonings,\nthe Caribbean\u00e2\u20ac\u2122s booming products<\/strong><\/p>\n\n\n\n<p>The Caribbean is world-famous as the home of\nrum. Global rum exports have increased by 26.86% over the last three years to\nreach a value of 1.45 million euros, and the countries in Latin America and the\nCaribbean are its major producers.<\/p>\n\n\n\n<p>In Europe, consumption in this market is led by\nGermany and Spain. In Spain, rum consumption makes up 14% of the spirits market,<a href=\"#_ftn2\">[2]<\/a>\nand in 2018 over 68% of global imports of rum came from the European market.<\/p>\n\n\n\n<p>\u00e2\u20ac\u0153Over the last decade, the production of rum\nhas diversified to include a wide range of flavours, including apple,\npineapple, mango and passionfruit,\u00e2\u20ac\u009d comments Damie Sinanan, Manager for\nCompetitiveness and Export Promotion at Caribbean Export. \u00e2\u20ac\u0153With these changing\ntrends and increased demand, we hope to see a more diverse range of Caribbean\nrum available in the European market.\u00e2\u20ac\u009d<\/p>\n\n\n\n<p>In addition, there is a noticeable increase in\nimports of spices and seasonings from developing countries to Europe (97% of\nthe total import volume). This owes to the healthy lifestyle trends, interest\nin new flavours and sustainability. In fact, the global spice market is\nforecast to grow by 5.1% from 2017 to 2021, according to Eurostat.<\/p>\n\n\n\n<p><strong>Natural ingredients, Caribbean treasure<\/strong><\/p>\n\n\n\n<p>Europe\u00e2\u20ac\u2122s love\nfor natural plant-based ingredients combined with the region\u00e2\u20ac\u2122s efforts to\npromote sustainability is fueling the demand for natural products, in different\nindustries such as the cosmetics market. <\/p>\n\n\n\n<p>The Caribbean\nhas an abundance of naturally grown produce that can be used within the\nnutraceutical and natural cosmetics market. Coconuts for example can be used in\na wide range of products including cosmetics and the FMI reports that the\nnatural cosmetics market is projected to grow at 4.9% volume CAGR through 2027.\nIn 2017, the European cosmetics market was valued at \u00e2\u201a\u00ac77.6 billion, making\nEurope the largest cosmetics market in the world and natural cosmetics accounts\nfor around 5% of total market. Among the European countries, Germany has the\nlargest market for cosmetic products, valued at \u00e2\u201a\u00ac13.6 billion, followed by France\n(\u00e2\u201a\u00ac11.3 billion), the UK (\u00e2\u201a\u00ac11.1 billion), Italy (\u00e2\u201a\u00ac10.1billion) and Spain (\u00e2\u201a\u00ac6.8\nbillion).<\/p>\n\n\n\n<p>Another\ninteresting segment isgluten-free\nfoods &amp; beverages. Approximately, Europe accounts for 25% of global gluten\nfree product demand.<\/p>\n\n\n\n<p>\u00e2\u20ac\u0153European consumers are increasingly concerned\nby their health and diet, which has a positive impact on the demand for naturally\nsourced products found in the Caribbean including those believed to have health\nbenefits,\u00e2\u20ac\u009d explains Sinanan. &nbsp;Wheat based flour contains varying levels of the protein gluten\nwhich has gained significant notoriety over the past decade due to increasing\nprevalence of gluten related health complications and a general switch by\nconsumers to more health-conscious options across the board. Furthermore, the gluten free market\nis expected to grow to the value of \u00e2\u201a\u00ac29 billion by 2025.<\/p>\n\n\n\n<p><strong>Potential for growth of creative industries<\/strong><\/p>\n\n\n\n<p>The increase in demand for Caribbean music is\nreflected in the huge popularity of festivals featuring this genre of music in\nEuropean countries, such as Summerjam reggae festival in Germany, Ibiza Soca\nfestival in Spain and Reggae Sun Ska Festival in France, along with many\nothers.<\/p>\n\n\n\n<p>\u00e2\u20ac\u0153One of the aims of this forum is to promote\nCaribbean cinema and animation as well as music, and animation in particular as\nwe know that it is one of the most widely-circulated categories in Europe,\u00e2\u20ac\u009d\nindicates Damie Sinanan of Caribbean Export.<\/p>\n\n\n\n<p>For more information about the 4th\nCARIFORUM-EU Business Forum visit: <a href=\"http:\/\/www.cedev.local\/businessforum\/\">http:\/\/www.cedev.local\/businessforum\/<\/a><\/p>\n\n\n\n<p><strong>About Caribbean Export<\/strong><\/p>\n\n\n\n<p>Caribbean Export is a regional export\ndevelopment and trade and investment promotion organisation of the Forum of\nCaribbean States (CARIFORUM) currently executing the Regional Private Sector\nProgramme (RPSDP) funded by the European Union&nbsp;\nunder the 11th European Development Fund (EDF)&nbsp; Caribbean Export\u00e2\u20ac\u2122s mission is to increase the\ncompetitiveness of Caribbean countries by providing quality export development\nand trade and investment promotion services through effective programme\nexecution and strategic alliances.<\/p>\n\n\n\n<p><strong>Caribbean Export\nDevelopment Agency<\/strong><\/p>\n\n\n\n<p>Contact: JoEllen Laryea, PR and Communications<\/p>\n\n\n\n<p>Tel: +1(246) 436-0578, Fax: +1(246) 436-9999 <\/p>\n\n\n\n<p>Email: <a href=\"mailto:jlaryea@carib-export.com\">jlaryea@carib-export.com<\/a>&nbsp; <\/p>\n\n\n\n<p><strong>Apple Tree\nCommunications<\/strong><\/p>\n\n\n\n<p>Contact: Natalia\nAmores, PR and Communications<\/p>\n\n\n\n<p>Tel: +1 (34) 91\n319 05 15<\/p>\n\n\n\n<p>Email:\nna@homeatc.com<br><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a href=\"#_ftnref1\">[1]<\/a> Inter-American Development Bank\n(IDB). \u00e2\u20ac\u0153Estimations of commercial trends: Latin America and the Caribbean\u00e2\u20ac\u009d<\/p>\n\n\n\n<p><a href=\"#_ftnref2\">[2]<\/a> Annual socio-economic report\nproduced by the Spanish Spirits Federation (Federaci\u00c3\u00b3n Espa\u00c3\u00b1ola de Bebidas\nEspirituosas, FEBE).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The value of Latin America and Caribbean (LAC) exports has shrunk by an estimated interannual rate of 1.6% in the first quarter of 2019, according to the Inter-American Development Bank (IDB) The slowdown in LAC foreign sales has been partially counteracted by buoyant exports from the Caribbean The Caribbean Export Development Agency is committed to [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":246877,"menu_order":0,"template":"","tags":[11492],"class_list":["post-268211","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business-forum-nl"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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